Conditional Sales Contract 1. In this Conditional Sales Contract (hereinafter referred to as Contract”) the words “you” and “your” refer to the Buyer named below (and, the Co-Buyer named below if any). The words “We”, “our” and “us” refer to the Seller and Source One Financial Corp. “Property” means the vehicle described below under “Description of Property”. BUYER’S FULL LEGAL NAME, ADDRESS & BIRTH DATE First Name CO-BUYER’S FULL LEGAL NAME, ADDRESS & BIRTH DATE Last Name First Name Last Name AddressApt.# AddressApt.# City City Province Postal Code Birth Date DEALER’S FULL LEGAL NAME, ADDRESS Province Postal Code Birth Date CO-BUYER’S FULL LEGAL NAME, ADDRESS & BIRTH DATE Dealer Legal Name First Name Address AddressApt.# City Province Postal Code Last Name City Province Postal Code Birth Date DESCRIPTION OF PROPERTY Year Make Model V.I.N. Plate No. No. of Doors Color Kilometers Other 2. 3. CASH SELLING PRICE Services / Fees Trade-in Allowance (Net) NET DIFFERENCE If any monthly payment or other payment owed by you under this Contract is not paid when due, a late fee of $50 will be charged against your account together with accrued interest (at the rate set out in section 2.). You also agree to pay us a $50.00 service charge for any cheque (pre-authorized or written) that is returned unpaid for any reason, including but not limited to any service charge due to non-sufficient funds. $0.00 HST $0.00 SUBTOTAL $0.00 + Gas Your first monthly payment is due . Your remaining Monthly Payments of are due on the day of each month thereafter. You promise to pay the total monthly payment for each month till all payments have been made. LATE PAYMENT CHARGE Optional Warranty (Net) Licence PAYMENT SCHEDULE = 4. EARLY BUYOUT OR TRANSFER ADMINISTRATION FEE 5. SELLER’S ASSIGNMENT $0.00 Lien Payout /Additional Costs BALANCE DUE $0.00 Cash Down Payment Optional Insurances (Incl. Taxes) Should the Contract be closed out earlier than the payment schedule described herein, or if you request a transfer to a third party that is acceptable to us, a fee of $350.00 will be applied to the buyout amount for discharge of the lien and for administrative costs. For value received, the seller assigns (transfers) all it’s rights under this Agreement and in the Property covered under it to: Source One Financial Corp. 498 Eagle St. North, Suite 103, Cambridge, ON N3H 1C2 1-877-564-8582 Registration Fee THE SELLER REPRESENTS AND WARRANTS THAT ALL THE TERMS AND CONDITIONS RELATED TO THE SELLER’S ASSIGNMENT EXPRESSED ON THE REVERSE OF THE AGREEMENT HAVE BEEN ADHERED TO. Source One Financial Administration Fee AMOUNT TO BE FINANCED Number of Monthly Payments $0.00 AUTHORIZED DEALER SIGNATURE Interest Rate % _ __________________________________________________________________________ Authorized Dealer Signature: Cost of Borrowing TOTAL AMOUNT PAYABLE 6. $0.00 Dated this of , 20 PRE-AUTHORIZED PAYMENT PLAN You hereby authorize Source One Financial Corp. to make withdrawals from your account indicated below or any other account you may indicate from time to time, for payment of all amounts due under this Contract. You may, upon ten days written notice to us, cancel this authorization at any time. Delivery of this authorization constitutes delivery by you. (A void cheque or a bank form is required) For joint accounts all depositors must sign if more then one signature is required on cheque issued against the account. Buyer’s Signature:____________________________________________________ Other Account Signatory: _______________________________________________ BY SIGNING THIS CONTRACT YOU ACKNOWLEDGE AND AGREE TO ALL PROVISIONS ON BOTH SIDES OF THIS CONTRACT 7. NOTICE TO BUYERS AND CO-BUYER: Do not sign the Contract before you read it and the blank spaces have been filled in. You have the right to get a filled-in copy of this Contract. Buyer and Co-Buyer (if any) states that he or she has been given a filled-in copy of this Contract at the time he or she signs it. If a Co-Buyer has signed this Contract the Co-Buyer shall be jointly liable and severally (solidarity) with the Buyer, all of the payments and obligation under this Contract, of any kind, whether the Buyer has been required to pay or not and whether the Property is damaged, returned or not, and the Co-Buyer hereby renounces to the benefits of division and discussion. The Buyer acknowledges having received and examined the Property and that the Property is in good condition and satisfactory to the Buyer. Buyer’s Signature:_ ____________________________________________________ Buyer’s Signature:_________________________________________________________ SOURCE ONE FINANCIAL CORP. SIGNATURE Co-Buyer’s Signature:_________________________________________________ Lender’s Signature:________________________________________________________ Dated this of , 20 Terms & Conditions 9. USE OF PROPERTY: You agree not to lease the Property or to sell transfer any interest in or to give possession or control to anyone else without our permission. The Property must be used in a careful and proper manner in compliance with all applicable laws. You also agree not to remove the Property from the province for more than 30 days without our approval. 18. DEFAULT: You will be in default under this contract if: replace all worn, or defective parts. If you fail to do this, we can make repairs and charge you for them. We have the right to inspect the Property at any reasonable time. a) You do not make payments when due. b)Any information in the Application and/or other documentation and/or information provided by you are false or misleading. c) You fail to comply with any conditions of this contract. d) You become insolvent or bankrupt. e) You fail to comply with the insurance requirements in this contract. f) You fail to pay when we ask any amount we are entitled to charge you for making repairs, maintaining insurance or clearing claims against the Property g) The Property is destroyed or substantially damaged or removed from Ontario. h) The Property is seized in any legal proceedings. i) Anything else happens that we reasonably believe adversely affects your ability to pay, or that we believe endangers the Property in any way. 12. INSURANCE: You agree to keep the Property Insured against loss or damage 19. ENFORCING OUR RIGHTS: We may enforce our rights to be paid the total 10. FINES LIENS AND ENCUMBRANCES: You agree to keep the vehicle free of all liens and encumbrances. You confirm that no one but us has any legal interest in the Property. If you do not promptly pay any fines or remove liens or encumbrances, at your own expense, we may do so and you will be charged for the same plus interest, in an amount as stipulated in section 2, plus an administration fee of $50 for each lien release or fine paid by us. 11. CARE OF PROPERTY: You promise to keep the Property in good repair and from fire, theft as well as collision. If we require you to carry additional insurance coverage, you agree to do so. The insurance you carry must be equal to the fair market value of the Property and you give us the right to receive the proceeds of all insurance covering the Property up to the value of the Property by having us as a “named” insured under the relevant policy. If you fail to carry adequate insurance, we may get it for you and charge you for the premium. If the Property is damaged you will use the proceeds of the insurance to repair the Property. However, if the Property is lost, stolen or substantially destroyed, we may decide whether to use the insurance proceeds to replace the Property or to apply them to what you owe under the contract. The loss, destruction or damage of the Property does not excuse you from making payments under this contract unless the insurance proceeds paid to us pays the balance of the total amount owing. 13. SEVERABILTY: Any portion of this contract, which is invalid, illegal or unenforceable in any jurisdiction, shall, as to that jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting in any way the remaining portion or provisions hereof in such jurisdiction or to the extent permitted by law. 14. PREPAYMENT: You may pay what you owe in whole or in part prior to the maturity. If you do so, the balance due to us (including any interest) will be calculated in accordance with the provisions of the applicable consumer legislation of the province of Ontario. 15. USE OF PERSONAL INFORMATION: You consent to the creation of a personal information file containing credit and other personal information. You agree that your Social Insurance Number may be used in an aid to identify you with credit bureaus and others for credit history file matching and other administrative purposes. You also consent to the retention of personal information about yourself for as long as is needed for the purpose of quality control and administrative purposes. You agree that during the term of the contract, you may not withdraw your consent to the ongoing collection, use or disclosure of your personal information in connection with the contract. Moreover, in order to ensure the accuracy, completeness and integrity of the credit reporting system, you specifically consent to the continued disclosure of your personal information to credit bureaus even after the loan has been retired and you promise that you shall not withdraw such consent. You understand you have the right to access your file upon written request and to correct or complete the information in your file. 16. WARRANTIES OR GUARANTEES: If any warranties or guarantees apply to the Property, other then those implied by sale of goods legislation or consumer protection legislation, they are attached to the contract. 17. WAIVER OF FINANCING STATEMENTS, ETC: Where the law permits, you waive your rights to sign or receive a copy of any financing, financing change or verification statement in connection with the contract. balance due under this contract by taking possession of the Property and/or suing you for what you owe. If we take possession of the Property, you can regain possession of it prior to us having sold it by paying the full buyout of the account, any permitted default charges payable to us, and for any and all reasonable costs we had in taking, holding, repairing or maintaining your Property as well as any other costs we are entitled, and by correcting any other defaults under this contract. This right of reinstatement can only be exercised as frequently as permitted under the Personal Property Security Act. If you do not regain possession of the Property as outlined above, we can sell the Property at either a public or private sale for immediate payments or deferred terms or lease it. We will give you a minimum of notice as required and place of any public sale or the date after which any private sale will be made. We will give you the amount left (if any) after we subtract the total amount you owe us plus all costs both legal and other expenses of taking, maintaining and selling the Property plus any amount we are required to pay to any other person. If there is a balance still owing to us after we have sold the Property and subtracted the total amount you owed us plus all our costs, you must pay us that amount unless prohibited by law. If we enforce our rights to be paid the balance due by court proceedings, you will pay us all costs including all legal costs. 20. ONTARIO PERSONAL PROPERTY SECURITY ACT: We have all rights, remedies and powers of a secured party, as appropriate and under other relevant legislation. You agree that we may send you by regular mail, copies of any documents that the Personal Property Security Act of Ontario requires us to send you to the address set out above. 21. WHO IS BOUND TO THIS CONTRACT: This Contract is binding on the person or persons who signed it plus their heirs and legal personal representatives and anyone to whom this Contract is transferred. 22. THIS CONTRACT: Take this Contract to be the full declaration of conditions and terms. No verbal arrangement or promises from the seller or any other representative will be permitted to contradict or contravene the Contract. Buyer’s Acceptance: _______________________________________________ ( By signing you acknowledge and agree to all provisions on both sides of this contract.) Co-Buyer’s Acceptance: ___________________________________________ ( By signing you acknowledge and agree to all provisions on both sides of this contract.) SELLER’S ASSIGNMENT : TERMS & CONDITIONS: 1. The contract is genuine and the Property has been sold and delivered to and accepted by each Buyer named in the contact and the Buyer’s name, birth date and the Property, the Total Amount Owing are correctly described and calculated in the Contract 2. All laws relating to the Contract, the Property and its sale to the Buyer have been complied with and the Seller will comply with any expressed or implied warranties given to the Buyer in respect to the Property. 3. The Seller has received the total down payment specified in the Contract, and no part of it has been loaned to the Buyer by the Seller or was paid by way of a post-dated cheque. 4. The Property is free of all legal claims except those of the Buyer. 5. The Contract is and will remain enforceable against the Buyer without deductions for any reason, and will not be rescinded or terminated by the Buyer or a court. In the event of any knowledge by Source One Financial Corp. now or hereafter or any breach on any of the foregoing shall not constitute any waiver of any of the Seller’s obligations. In the event of a Seller’s breach of any of the terms and conditions, the Seller agrees to purchase on demand from Source One Financial Corp. the Contract for the amount of the unpaid balance or the Total Amount Owing. The Seller consents to extensions of payments or alterations of the Contract, which may be made by Source One Financial Corp. BUYER’S AUTOMATIC PRE-AUTHORIZED PAYMENT PLAN : TERMS & CONDITIONS By signing on the front, you are authorizing us to debit your designated account from the Financial Institution you have provided. You also agree that any renewal or amendment of the Contract, or adjustment will result in an automatic adjustment of the payment amount. This authorization applies only to the method of payment and does not have any bearing on your obligation under the Contract. The cancellation of this plan does not affect your obligation to make payments to us under this agreement. The authorization will continue until the loan is paid in full or this authorization is revoked in writing. The amount of each debit received by us will be credited against the outstanding balance of the contract. When you give us this authorization to debit your account, it is the same as delivering a notice to your Financial Institution where you maintain your account. Your Financial Institution will debit the account you specify in the same manner as if you had given written instructions. You are aware that we will debit your account for all payments due under this contract, and authorize Source One Financial Corp. to debit any amount outstanding to comply with the terms and conditions of the contract. The Financial Institution listed will not check if the debit was in accordance with the authorization nor verify that we have fulfilled the purpose of the debit as a condition to honoring the debit. You are responsible to letting us know if there are any changes to the account information for the pre-authorized debit.